Iconix Lifestyle India Private Limited, a joint venture (JV) between Reliance Brands Limited and US-based Iconix Brand Group Inc on Wednesday acquired the IP rights in India of iconic British brand Lee Cooper.
As per a release of the group, Lee Cooper, born in 1908 with its heritage in denim, is today a multi-category, dual-gender brand with a presence across 126 countries, 7,000 points of sale and over two million social followers.
"Lee Cooper's brand history and unparalleled relevance in the Indian market makes it the most prestigious acquisition for the JV. It's the go-to denim brand that liberalized India grew up with and its affinity among consumers gives us a strong foundation to rebuild the brand in the country," Darshan Mehta, Managing Director of Reliance Brands Limited and Director on the Board of Iconix Lifestyle India Private Limited said.
The group, in its release, said that the acquisition will allow Iconix Lifestyle India to expand Lee Cooper presence in India by enabling the brand's distribution across all retail channels while strengthening marketing and brand management.
"Gaining Lee Cooper's IP rights aligns with our long-term strategic approach to growing our brand presence in India. We have a very strong commitment to the ongoing success, and this development provides the opportunity to operate directly in a quickly expanding market and to bring this iconic high-quality brand to a new audience," Bob Galvin, Chief Executive Officer and President of Iconix Brand Group Inc and Director on the Board of Iconix Lifestyle India Private Limited, commented.
( With inputs from ANI )
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